Jeera On NCDEX Settled Down By -1.45% At 16640

Jeera on NCDEX settled down by -1.45% at 16640 due to ample stocks position following higher supplies from the producing regions. Though, some losses were capped on expectation of rising export demand in coming months. Traders and stockists have sourced sufficient quantity for the domestic requirements. According to Dept of Commerce data, the export of jeera during 2015-16 (Apr-Feb) surged to 93,539 tonnes compared to 1.56 lt exported last year same period. The exports for 2015-16 declined compared to last year. As per third advance estimate of Gujarat State for 2015-16, production is pegged at 2.13 lt higher by about 7% forecasted in revised fourth advance estimate of 1.97 lt.